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credit card. ...tax time can ofbe...well...taxing. so right now we'll give you... ...$10 off any turbo tax deluxe level software or higher! find thousands of big deals now... ...at officemax. so i used my citi thankyou card to pick up some accessories. a new belt. some nylons. and what girl wouldn't need new shoes? and with all the points i've been earning, i was able to get us a flight to our favorite climbing spot even on a holiday weekend. ♪ things are definitely looking up. [ male announcer ] with no blackout dates, you can use your citi thankyou points to travel whenever you want. visit citi.com/thankyoucards to apply. with fancy feast mornings want. gourmet cat food. (announcer) make mornings special, mornings are delicious protein rich entrees with garden veggies and egg. fancy feast mornings. the best ingredient is love. i just served my mother-in-law your chicken noodle soup but she loved it so much... i told her it was homemade. everyone tells a little white lie now and then. but now she wants my recipe [ clears his throat
credit card. ...tax time can ofbe...well...taxing. so right now we'll give you... ...$10 off any turbo tax deluxe level software or higher! find thousands of big deals now... ...at officemax. so i used my citi thankyou card to pick up some accessories. a new belt. some nylons. and what girl wouldn't need new shoes? and with all the points i've been earning, i was able to get us a flight to our favorite climbing spot even on a holiday weekend. ♪ things are definitely looking up. [ male...
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Jan 30, 2013
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that's in tax reform. and we can do those things, like i said, and be wise and plan ahead and not bury our heads in the sand and not obsess about what the deficit's going to be the next year or two, that worry about what the long-term debt's going to be 10, 15, 20 years from now. that's what bowles has been saying. he's been saying don't worry about the short-term deficits. >> and what's the relationship between the -- what's the relationship between the cost of the debt and the size of the economy? because that's actually the key. it isn't the absolute amount of the debt. it's what is the debt service which right now is actually quite low because interest rates are so low as a proportion of the economy. it is a more complex formula. >> yeah. but as erskine bowles says and simpson says as well, you bring up an absolutely fantastic point. right now a big chunk of our budget is going to servicing the debt. and that's happening when we have historically low interest rates. if interest rates go back to what th
that's in tax reform. and we can do those things, like i said, and be wise and plan ahead and not bury our heads in the sand and not obsess about what the deficit's going to be the next year or two, that worry about what the long-term debt's going to be 10, 15, 20 years from now. that's what bowles has been saying. he's been saying don't worry about the short-term deficits. >> and what's the relationship between the -- what's the relationship between the cost of the debt and the size of...
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Jan 25, 2013
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tax man? >> don't put it all on steve. >> i don't mind lowering your taxes as long as you're willing to have me lower your benefits because the numbers -- ultimately the math has to add up. joe, you are the great deficit hawk of all time. >> i am. >> you believe we should not be incurring this debt, so we've got to do something. >> right. >> what is that something? we have an aging society with a large commitment to social welfare programs that the public does not want to see materially reduced. you may want to, but the polls say the public does not want to see them materially reduced. >> by the way -- >> where is all this money going to come from? >> it's not about what i don't want or want. this is basic arithmetic. the deficit, the debt that is incurred by medicare and medicaid in the out years, it just can't be made up, even in a small part by increasing taxes on the margins anymore. i mean, you could take the tax rate up to 95%, perhaps. >> well, you don't have to go that high. the math h
tax man? >> don't put it all on steve. >> i don't mind lowering your taxes as long as you're willing to have me lower your benefits because the numbers -- ultimately the math has to add up. joe, you are the great deficit hawk of all time. >> i am. >> you believe we should not be incurring this debt, so we've got to do something. >> right. >> what is that something? we have an aging society with a large commitment to social welfare programs that the public...
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Jan 28, 2013
01/13
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and we've done a lot of the tax. we really can't get there through further tax increases or through discretionary spending. it's got to be through entitlements which means the health care sector. if we don't get serious about it, we are going to make ourselves extraordinarily vulnerable, and the president didn't do it so far. one hopes he does it in the state of the union. >> ed, republicans have had a terrible record over the past decade when it comes to spending, when it comes to deficits, when it comes to debt. george w. bush added $6 trillion in debt, the president, $6 trillion over one term. but democrats are going to have to look at medicare and medicaid. this just can't -- you can't tax your way to solvency, can you, with these programs? >> you can't. i mean, we have made over $1 trillion in cuts at the last continuing resolution. that was a good thing. we've raised revenues, $600 billion in revenue, that was a positive step. we've got, joe, at least $2.5 trillion to go. and i think richard's right. i'd say it
and we've done a lot of the tax. we really can't get there through further tax increases or through discretionary spending. it's got to be through entitlements which means the health care sector. if we don't get serious about it, we are going to make ourselves extraordinarily vulnerable, and the president didn't do it so far. one hopes he does it in the state of the union. >> ed, republicans have had a terrible record over the past decade when it comes to spending, when it comes to...
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Jan 31, 2013
01/13
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income jumped because people were paying themselves a ton of money ahead of the higher tax rate this year. but for the most part, you had the higher income numbers, which is a good thing. >> that's a good thing. you're also fog a story in the "wall street journal" today about unions and health care. >> it's getting a lot of play out there. and the story is basically this, folks. it's in the journal, which is that part of obama care allows caps on precipitation drug spending, and some unions, apparently, are just realizing this. and they're pushing back on the administration to make sure they don't have these caps, because they're saying, that's going to drive up our medical costs, our health care costs, more than we thought, which means, we're going to be less competitive in the marketplace. so according to the journal, the unions are pushing back on the obama administration about this cap. and they're asking for federal subsidies on top of their work insurance. >> all right. and let's talk about facebook now. they've just had a brutal year. but some pretty good news in the fourth qu
income jumped because people were paying themselves a ton of money ahead of the higher tax rate this year. but for the most part, you had the higher income numbers, which is a good thing. >> that's a good thing. you're also fog a story in the "wall street journal" today about unions and health care. >> it's getting a lot of play out there. and the story is basically this, folks. it's in the journal, which is that part of obama care allows caps on precipitation drug...
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Feb 1, 2013
02/13
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. >> he's been talking about leaving golf because of high tax rates. if he'd have shot a 58, it would have given him a reason to leave golf, so we're going to keep him around. >> i've got to say, i was watching soccer. >> really? who was playing? >> no. >> richard got a 58. >> exactly. so we all know the beyonce story by now, right? she had the backing track at the inauguration last week. she finally got around to answering questions about it because, frankly, we haven't heard from her personally. this is at a news conference at the super bowl down in new orleans. she let her singing mostly do the talking. ♪ o'er the land of the free ♪ and the home of the brave ♪ the brave any questions? due to the weather, due to the delay, due to no proper sound check, i did not feel comfortable taking a risk. it was about the president and the inauguration, and i wanted to make him and my country proud. so i decided to sing along with my prerecorded track, which is very common in the music industry. and i'm very proud of my performance. >> so just to go back f
. >> he's been talking about leaving golf because of high tax rates. if he'd have shot a 58, it would have given him a reason to leave golf, so we're going to keep him around. >> i've got to say, i was watching soccer. >> really? who was playing? >> no. >> richard got a 58. >> exactly. so we all know the beyonce story by now, right? she had the backing track at the inauguration last week. she finally got around to answering questions about it because,...
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Jan 24, 2013
01/13
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and there's the overarching question of taxes and spending and entitlements. where do you put the challenges this session faces in terms of history? is this 1981? is this 2009? how are you feeling about the weight of what you have to deal with? >> well, first let me say there is bipartisan agreement that your book on jefferson is absolutely fantastic. >> all right. >> that's among the leadership as well as the rank and file members of the united states senate. >> i appreciate that. >> people are reading it all over the place. from my standpoint, we're really looking at the greatest threat to our national security is our debt. it has to do with our children and our grandchildren's futures. as i travel wyoming and have telephone town hall meetings, the things that really come up, people are saying i'm not worried for me. i'm worried for my kids and grandk grandkids, and are we still going to have america in the future with this kind of debt? who will we owe our future to? >> senator barrasso, i want to ask you about your piece in this morning's "wall street jour
and there's the overarching question of taxes and spending and entitlements. where do you put the challenges this session faces in terms of history? is this 1981? is this 2009? how are you feeling about the weight of what you have to deal with? >> well, first let me say there is bipartisan agreement that your book on jefferson is absolutely fantastic. >> all right. >> that's among the leadership as well as the rank and file members of the united states senate. >> i...